Notify the fund of your retirement or request early retirement. You may request a retirement benefit from the fund at any time from the age of 55. You must notify the fund of your intention to retire by using the Ill-Health Early Retirement Request form. You may request to retire earlier than age 55 due to an illness or injury that makes you permanently disabled. The fund rules require that you provide the Trustees with medical records, obtained at your own cost, which proves that you are permanently disabled. The Trustees may approve early retirement based on this evidence. You can choose to retire by requesting that: • All unit trust portfolios of all of your product accounts be sold (or the units transferred to an insurer) to provide you with a retirement benefit (full retirement benefit): or • All the unit trust portfolios of one or more (but not all) of your product accounts be sold (or the units transferred to an insurer) to provide you with a retirement benefit (staggered retirement benefit). When you choose a full retirement benefit, your membership of the fund will terminate. You will remain a member of the fund if you choose a staggered retirement benefit because you will have remaining benefits in the fund. You may choose to have the full or staggered retirement benefit (whichever applies) paid in one of the following ways: • The full benefit is used to buy a compulsory annuity in your name. • One third of the full benefit is paid as a cash lump sum, with the other two-thirds used to buy a compulsory annuity in your name. • The full benefit is paid as a cash lump sum but only if the pre-tax fund value, on the date of retirement, is less than R247 500 or such other amount as set out in legislation. This option is subject to SARS requirements. The entire benefit due to you, after deducting fees, charges and taxes payable, will be paid as selected by you once all processing and regulatory requirements have been met.
